Affordable and Simple Small Business Accounting
January 06, 2022

Affordable and Simple Small Business Accounting

Brandon Scivolette | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Xero

Xero automates our small business accounting, making it easy to bring in transactions through bank feeds. Beyond that, Xero provides decent reporting for P/L and similar reporting needs of small businesses. Finally, we use Xero for vendor payments and to report 1099's at the end of the year.
  • Transaction Feeds
  • Bank Reconciliation
  • 1099 Reporting
  • P/L Reporting
  • Batch Payments
  • Bulk Void/Delete of Bills and Bill Credits
  • Confusing Reporting System for Non-Accountants
  • Reconciliation Keeps Accounting and Bank Accounts in Sync
  • Reduced Errors in Reporting
  • Improved Billing and Invoicing
  • Substantial Time Savings with 1099 Reporting and Integrations to 1099 e-File
Personally, I always hated QuickBooks. I'm sure the online/cloud version is a lot different than the older desktop software, but I never found it to be easy to use and my books were always out of sync. Wave [Accounting] was the first Saas accounting software I tried, but I didn't feel like it was ready for small businesses. That's when I found Xero. For the most part, Xero does what I need it to do and most importantly it keeps my books in sync with what is actually happening in my bank and credit accounts.
The UI is pretty good, much better than other applications I have used. Reconciliation, bank feeds, chart of accounts, bills, and invoices are all very straightforward and easy to understand.
By keeping our books in sync we can rely on our quarterly and EOY reports without having to go back and manually confirm any of the information.
It's cloud-based, so that alone makes it easy to use. They also have an extensive app marketplace and you can automate many processes using Zapier. We utilize the Zapier integration to create bills and invoices from a number of outside services, especially SQL.

Do you think Xero delivers good value for the price?

Yes

Are you happy with Xero's feature set?

Yes

Did Xero live up to sales and marketing promises?

Yes

Did implementation of Xero go as expected?

Yes

Would you buy Xero again?

Yes

Xero seems to target two different types of users: small businesses and accountants. While a lot of the functionality is simple enough to be used by small businesses, some things are clearly geared toward accounting professionals and are confusing for non-accountants. If you're looking for an application that is simpler and easier to use than Quickbooks, and want to keep your books and bank feeds in sync, then Xero could be a good choice.

Xero Feature Ratings

Accounts payable
6
Accounts receivable
6
Cash management
Not Rated
Bank reconciliation
9
Expense management
8
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
Not Rated
Regulations compliance
Not Rated
Electronic tax filing
Not Rated
Self-service portal
5
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
Not Rated
Localizations
Not Rated
Journals and Reconciliations
Not Rated
Enterprise Accounting
Not Rated
Configurable Accounting
6
Centralized Rules Framework
Not Rated
Standardized Processes
Not Rated
Inventory tracking
6
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
Pricing
5
Order entry
Not Rated
Credit card processing
Not Rated
Cost of goods sold
Not Rated
Order Orchestration
Not Rated
End-to-end order visibility
Not Rated
Order exception Resolution
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
Salary revision and increment management
Not Rated
Reimbursement management
Not Rated
Dashboards
5
Standard reports
7
Custom reports
8
API for custom integration
Not Rated
Plug-ins
6
Role-based user permissions
7
Single sign-on capability
Not Rated